In support of President Trump’s Executive Order 13795, Implementing an America-First Offshore Energy Strategy, the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) and Bureau of Safety and Environmental Enforcement (BSEE) have announced proposed changes to clarify, streamline and provide greater transparency to financial assurance requirements (e.g. bonding) for the offshore oil and gas industry, while protecting  American taxpayers against high-risk decommissioning liabilities.

It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers.

South America has made a cost-cutting leap since 2013, when it was the world’s most expensive region for deepwater oil and gas production costs.

bp has introduced a new strategy that will reshape its business as it pivots from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers.   

Mermaid and ARV announces a newly formed partnership to develop robotics and artificial intelligence technology to provide commercial subsea engineering services to oil and gas companies, and renewable energy corporates operating in offshore businesses, both in Asia and other regions.

DOF Deepwater AS (“DOF Deepwater”), which is jointly controlled by Akastor and DOF ASA (“DOF”) and which has been part of Akastor’s legacy portfolio since the demerger from Aker Solutions in 2014, has entered into a term sheet with its lenders on a restructuring of its debt that secures continued operations up to second half of 2023.

Crude Oil

Canada’s Ocean Supercluster “Ocean Startup Project” and the World Ocean Council (WOC) are collaborating to broaden the search for problem-solvers to take part in the Ocean Startup Challenge - applications close on 14 August.

Platforms may be similar in characteristics and configuration, but the cost of decommissioning them can differ significantly depending on location, climate and regulations. The recent oil price slump has boosted interest in decommissioning, and Rystad Energy has therefore developed a decommissioning cost estimating tool to help E&Ps and service firms prepare for the coming decommissioning wave.

A total of 18 planned and announced Floating Production Storage and Offloading (FPSO) projects are expected to be deployed offshore Brazil during the outlook period 2020–2025, the highest among the countries globally, according to GlobalData, a leading data and analytics company. 

Following the news that Saudi Aramco recorded a 73.2% fall in its Q2 profits to $6.6bn, down from the $24.7bn in the same period last year;

Following the release of Shell’s Q2 2020 earnings call; Effuah Alleyne, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers her view:

Reuters Events - has announced the second episode in a new three-part broadcast on Energy Transition. The future energy system will mark a radical overhaul of the energy business ecosystem, with traditional industry diving lines set to be blurred. Speed and timing will be crucial for those looking to stay on the right side of the transition.

The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares (“common stock”) of Valaris plc (the “Company”) — ticker symbol VAL — from the NYSE.

TGS-NOPEC Geophysical Company ASA has submitted a conditional offer for the purchase of the multi-client data library of PGS ASA (“PGS”) (the “Offer”).

The UK has an unrivalled track record of technological innovation, but ideas frequently fail between invention and commercialization.